FEATURES OF BUDGET FUNDS ACCOUNTING ACCORDING TO NATIONAL AND INTERNATIONAL BUDGET ACCOUNTING STANDARDS

In the context of the reforms being carried out in the country's budget and tax policy in recent years, the measures being taken to reduce the financial support of budget organizations from the budget demonstrate the high importance of extra-budgetary funds of budget organizations. The ongoing work on the adoption of regulatory and legal frameworks serves as clear evidence of this. President of the Republic of Uzbekistan Sh. At Mirziyoyev's meeting on October 20, 2023, he specifically addressed the main directions of the 2024 budget, stating that "the existing reserves and opportunities for increasing state budget revenues and optimizing expenditures were thoroughly analyzed by sector, industry, and region." First of all, specific tasks have been set to reduce costs in large industrial sectors by reducing costs. For example, it is estimated that in the fourth quarter of this year alone, expenses at 349 large industrial enterprises could be reduced by 2.1 trillion soums. To systematically continue these efforts, the government was instructed to develop programs to reduce costs in large sectors by 15-20% next year. The issue of expanding the revenue base of the regions was addressed. In particular, measures have been identified to support low-capacity enterprises and bring them to full capacity. The necessity of developing entrepreneurship, expanding the tax base, and reducing the shadow economy by providing benefits was emphasized. As is known, with the reduction of tax rates or the abolition of certain taxes, the amount of funds received by the budget will inevitably decrease. This can be addressed through effective tax administration and budget stability can be ensured. In the process of budget execution, accounting has been established in budget organizations for the continuous accounting of the formation and expenditure of State budget funds and extra-budgetary funds of budget organizations, their documentation, and the systematic formation of information. The targeted and effective use of budget funds and preventing budget deficits are among the pressing issues. "Of course, the State budget is not immeasurable; it is necessary to ensure substantial savings in funds and their targeted and rational use. "This is a clear and undeniable truth," says President Sh. M. Mirziyoyev in his speech.